First Citizens BancShares (FCNCA) – Research Analysts’ Weekly Ratings Changes

Posted by Doug Wharley on Nov 15th, 2024

A number of firms have modified their ratings and price targets on shares of First Citizens BancShares (NASDAQ: FCNCA) recently:

11/14/2024 – First Citizens BancShares was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
11/5/2024 – First Citizens BancShares was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
10/28/2024 – First Citizens BancShares was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
10/25/2024 – First Citizens BancShares had its price target lowered by analysts at JPMorgan Chase & Co. from $2,550.00 to $2,300.00. They now have an “overweight” rating on the stock.
10/25/2024 – First Citizens BancShares had its price target lowered by analysts at Wedbush from $2,150.00 to $2,000.00. They now have a “neutral” rating on the stock.
10/7/2024 – First Citizens BancShares was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
9/24/2024 – First Citizens BancShares was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating. They now have a $2,150.00 price target on the stock, down previously from $2,450.00.

First Citizens BancShares Price Performance

Shares of FCNCA traded up $35.67 during mid-day trading on Friday, reaching $2,187.69. The company had a trading volume of 47,528 shares, compared to its average volume of 87,368. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $31.66 billion, a P/E ratio of 12.53 and a beta of 0.80. First Citizens BancShares, Inc. has a twelve month low of $1,363.97 and a twelve month high of $2,275.90. The company’s 50-day moving average is $1,967.24 and its 200-day moving average is $1,867.87.

First Citizens BancShares (NASDAQ:FCNCA – Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter last year, the firm earned $55.92 earnings per share. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 189.06 EPS for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.95 per share. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, November 29th. This represents a $7.80 annualized dividend and a yield of 0.36%. First Citizens BancShares’s dividend payout ratio is 3.76%.

Institutional Trading of First Citizens BancShares

Several hedge funds have recently modified their holdings of FCNCA. Envestnet Portfolio Solutions Inc. boosted its stake in shares of First Citizens BancShares by 13.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 183 shares of the bank’s stock valued at $299,000 after purchasing an additional 22 shares during the last quarter. Empowered Funds LLC acquired a new stake in First Citizens BancShares during the 1st quarter worth $263,000. Sei Investments Co. raised its position in shares of First Citizens BancShares by 67.5% during the 1st quarter. Sei Investments Co. now owns 6,067 shares of the bank’s stock valued at $9,921,000 after acquiring an additional 2,444 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of First Citizens BancShares by 46.3% in the 1st quarter. Russell Investments Group Ltd. now owns 10,305 shares of the bank’s stock valued at $16,849,000 after purchasing an additional 3,260 shares during the period. Finally, US Bancorp DE boosted its position in shares of First Citizens BancShares by 1.9% in the 1st quarter. US Bancorp DE now owns 632 shares of the bank’s stock worth $1,033,000 after purchasing an additional 12 shares during the last quarter. 61.18% of the stock is owned by institutional investors.

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.